Amazing Facts About Happy Customers You Should Know

Oct 24 2018 :: by Senabulya

Achieving
customer happiness is challenging, but worth your efforts because it pays back
dearly and for long term. Here’s what I
mean: happy customers are a goldmine to your business and are associated with
fascinating benefits. That’s why you must not work towards earning from your customers only but also looking forward to
making them happy.

Check this out:

According to
the Echo
2012 Global Customer Service Barometer, almost a third of customers believe
that businesses are paying less attention towards providing a great customer
service. And only 7% of consumers reveal that their customer service experiences
with companies exceed their expectations.

What does
this mean? There’s a huge gap between customer happiness and most businesses. So,
you should always stand out and aim at satisfying your current customers
because they’re of much value to your business than new customers. Case in
point: the probability of closing
a sale with current customers is 60 to 70%, but the probability of selling
to a new customer is only 5 to 20%.

Here are
facts about happy customers you need to know:

Are Loyal To Your Business.

Happy
customers will always come back to your business because of the satisfaction they
receive. They will always first think of
your business whenever they need to make a purchase and won’t have to look elsewhere.

As a matter
of fact, the best customer experience with your business ranges from quick
service, 24/7 availability to a
personalized service that gives your customers a satisfying experience. And according to a study by Morning
Consult, 50% of millennials say that positive
customer service experiences with a brand are essential in winning their
loyalty for that brand.

Want to know
the best part? This long-term loyalty is
beneficial to your business because it provides it with actively engaged
customers in the sales funnel all the time. As customers come back frequently and
are exposed to more of your products/services.

Remember
these customers already have trust for your business and won’t spend much time
in the funnel before closing the sale. Even better, customer loyalty is associated
with consistent sales that result in more
profits. And according to Bain and
Company, a rise in customer retention by only 5% increases profits by 25%
to 95%.

Refer Your Business

Happy customers
play the golden role of referring your business to others. Wondering how? They
share their good experiences with others and also recommend your business to
their families, friends, and relatives. More
so, in this digital world, online reviews are greatly considered and happy
customers give your business great review ratings online. These reviews drive
other customers to pick interest in your business.

Look: according
to Temkin Group, 77% of customers who have had a positive
experience with your business would recommend it to their friends. Best of all,
customers
acquired through referrals have a 37% higher retention rate. And the word
of mouth of your customers generates twice the returns from paid advertising.

Referred
customers also spend less time in your sales funnel and close the sale quickly
because they already trust your business. Why? Their
referees have already assured them of a great service.

Tend To Buy More

More sales
mean more revenue thus happy customers are associated with more revenue for
your business because they tend to buy more of your goods/services. Happy
customers are already impressed with your business and can consume more without
worrying about anything. Why? Because all their doubts about products/services
have been cleared by their first satisfactory experience with your business.

Check this out: a
study by Temkin Group reveals that a small increase in customer experience
drives an
average revenue rise of $823 millions for a
business with $1 billion in its annual revenues. And it happens in a period of
over three years.

More so,
there is a great opportunity for
up-selling and cross-selling to your
happy customers more of your products or services. This helps in maximizing
sales by selling more to your current customers at low costs as nothing much is
spent in attracting them back.

But here’s
the kicker: 65%
of businesses can successfully up-sell or cross-sell to existing customers
but only 12% can successfully up-sell or cross-sell to new customers. Thus,
your current customers are a ready market for your goods/services.

They Pay More.

Happy
customers have nothing against the price of your goods/services because most of
your customers say they are ready to pay more for a great service. Let me
explain, what matters most to your customers is the satisfaction they get from
your goods/services. This gives you an opportunity to charge what your
goods/services are worth. But that’s just part of it, it also helps you in
improving the quality of your goods/services consistently because you are
assured of a worthy pay to cover the costs.

For example,
a study by Gartner
reveals that 64% of customers find their
experience more important than the price
of your goods/services when making a purchase. Furthermore, The 2017 American
Express Customer Service Barometer shows that 7 out of 10 consumers in the
United States say they’ve spent more money so as to do business with a company
that provides a great service.

Here’s The Catch

A customer
is why your business exists so; customer experience with your business should
be your top priority. It starts from timely
communication to knowing their interests
and solving their issues promptly. So, if you want to create more happiness for your customers, you must invest in customer
experience.

Well, with a customer service
software, your customers’ experience can be optimized
to their satisfaction. Wondering how? Through providing your customers with
quick/timely, 24/7, personalized experiences they long for. After collecting
information about them from chat transcripts and search history.